The strategic transaction will enable Carbios to turn itself into a leading provider of biological technologies for the end-of-life of plastics and synthetic fibres
Green chemistry company Carbios has purchased the complete stake of Limagrain Ingredients in a joint-venture company Carbiolice.
Carbios has paid cash for a minority portion of stake and issued its new ordinary shares for a majority portion in Carbiolice.
Carbiolice, an industrial start-up, was established in 2016. It develops biobased, biodegradable and compostable plastic solutions that minimise impact on the environment.
Carbiolice offers eco-responsible additive solution called Evanesto
Evanesto, an eco-responsible additive solution from Carbiolice, can be used in plastic, flexible and rigid packaging applications.
Plastic containing Evanesto can be converted into compost within 200 days, thereby enabling to reduce plastic waste in the environment.
The strengthening of Carbios’ ownership in
The strategic deal will help Carbios to turn itself into a major provider of biological technologies for the end-of-life of plastics and synthetic fibres.
Carbiolic’s polylactic acid (PLA) biodegradation technology, along with Carbios’ enzymatic recycling process, will facilitate in commercialization of a new generation of plastics that can be completely composted in domestic conditions.
It will help attain zero waste for certain flexible and rigid packaging, which due to their nature cannot be recycled.
Carbios CEO Jean-Claude Lumaret said: “The fruitful collaboration between Limagrain Ingredients and Carbios has enabled the development of an industrial biotech that is among the most innovative in Europe in the field of compostable packaging.
“The acquisition of Limagrain Ingredients’ shareholding in Carbiolice is consistent with our desire to strengthen value creation for our shareholders. We are confident that this transaction will enable us to better prepare for the commercial launch of Evanesto® and the execution of our growth strategy.”
In April this year, Carbios and TechnipFMC collaborated to jointly build a new facility in France, to demonstrate Carbios’s enzymatic recycling process for polyethylene terephthalate (PET) plastics.